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Article: BRIEF/ADB approves $30 million support loan for AFIC, NATION
- Article from:
- The Nation (Thailand)
- Article date:
- April 24, 1998
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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The Nation (Thailand)
04-24-1998
THE Asian Development Fund (ADB) has approved a liquidity facility of
US$30 million to the Asian Finance and Investment Corporation Ltd (AFIC)
to support its short-term financial needs in the wake of the regional currency
turmoil.
AFIC was established in 1989 with 26 shareholders, composed of ADB and
a group of international commercial banks. AFIC's main purpose is to provide
financing for private sector enterprises in the bank's developing member
countries.
The liquidity facility will be the bank's second loan to AFIC. Its
first, a loan of $35 million in 1991, was repaid in 1996. The liquidity
facility will be financed from the bank's ordinary capital ...
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